FinTech billionaire Michael Gastauer (© GFO Group)
London, 2 February 2024 – 7Newswire
Financial technology entrepreneur Michael Gastauer has allocated $1.5 billion of his family fortune to set up a nature conservation fund. Gastauer is supporting the United Nations’ goal of converting at least 30% of the world’s land and marine areas into protected areas by 2030.
In January 2024, the founder and chairman of the Gastauer Family Office (GFO), Michael Gastauer, decided to allocate $1.5 of his $11.4 billion family fortune to establish the “Gastauer Nature Fund” to protect the environment. The aim of the Gastauer Nature Fund is to combat the mass extinction of endangered animal species, to protect important ecosystems and to protect at least 30% of land and ocean areas by 2030. Currently, only 8% of our oceans and 15% of our global land areas are protected.
In 2022, the United Nations published the Convention on Biological Diversity, the first draft of the new Global Biodiversity Framework. The framework contains 21 goals for 2030, including Target 3:
“At least 30% of the world’s land and marine areas are protected by effective, equitably managed, ecologically representative and well-connected protected area systems (and other effective area-based conservation measures).” (Source: United Nations Biodiversity Plan) This goal is commonly referred to as 30×30.
The Gastauer Nature Fund supports the goals of 30×30 in areas critical to carbon sequestration and biodiversity protection. As part of these efforts, the Gastauer Nature Fund financially supports local partners to secure land ownership in protected areas and strengthen the management of protected areas. In addition, the fund supports the establishment of administrations and organizations to monitor the development of protected areas.
Around 190 countries have agreed to the United Nations’ comprehensive agreement to protect 30 percent of our planet’s land and oceans by 2030 and take a range of other measures to combat biodiversity loss.
Total United Nations biodiversity funding has doubled to $200 billion per year, funded from diverse sources such as governments and nonprofits. The European Union has pledged $7.4 billion in financial support by 2027.
About GFO
Gastauer Family Office (GFO) is a single-client private asset management firm with US$11.4 billion Assets under management. GFO is set up as an organizational structure to manage the financial and personal affairs of the Gastauer family members.
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